Mismatch name bank accounts

LOMBOK · #23 12-23-2015

Quote:

Originally Posted by realdeals

Yes it can do , request a basic and then open a few then a few savers.....

Do not let staff bully you into more 'appropriate' accounts.

Once you open a basic it is easy to open others.

However once you open a 'higher profile' type account they can refuse to open a basic for you.

Can be true with Nationwide also, and Halifax.

Found Santander difficult to open a basic with when you have other accounts with them. I do still think it is down to the staff in the branch though.

Natwest on the other hand are great. Really easy to open basic accounts and then add savers. When opening basics with them, I have the option of selecting the branch I want to operate the account from. This way I have a range of sort codes. All opened up online and the details are available immediately.

Nationwide staff are helpful too. Never had a problem with mismatched names either, whether it is PP or AMA.

Some will say to stay away from TSB but I have been running a stealth PP with their basic account for nearly 3 years without a problem. Good staff in my branch too.

RBS good. They will be Williams and Glynn soon.

COOP good. BOS good.

Yet to try Yorkshire Bank, Ulster Bank and Clydesdale Bank. Next year for these.

All my bank accounts are basics with added savers.

hingwhh · #24 12-25-2015

Hi, thanks for the information, may I ask what do you mean added savers ? Does it mean you can get more bank accounts in same bank ? Thank you once again

Quote:

Originally Posted by LOMBOK

Found Santander difficult to open a basic with when you have other accounts with them. I do still think it is down to the staff in the branch though.

Natwest on the other hand are great. Really easy to open basic accounts and then add savers. When opening basics with them, I have the option of selecting the branch I want to operate the account from. This way I have a range of sort codes. All opened up online and the details are available immediately.

Nationwide staff are helpful too. Never had a problem with mismatched names either, whether it is PP or AMA.

Some will say to stay away from TSB but I have been running a stealth PP with their basic account for nearly 3 years without a problem. Good staff in my branch too.

RBS good. They will be Williams and Glynn soon.

COOP good. BOS good.

Yet to try Yorkshire Bank, Ulster Bank and Clydesdale Bank. Next year for these.

All my bank accounts are basics with added savers.

rsot · #25 12-25-2015

Remember that savers may have additional fees if you try to take money out - usually, no extra fees for online transfering to current accounts and then withdrawal

Ebayisbad · #26 12-25-2015

Lloyds, RBS, barclays, natwest, halifax works for me

LOMBOK · #27 12-25-2015

Quote:

Originally Posted by hingwhh

Hi, thanks for the information, may I ask what do you mean added savers ? Does it mean you can get more bank accounts in same bank ? Thank you once again

I have 4 basic accounts with Natwest. After opening the first online, I waited four or five months before opening the next, again online. Same process for the others. You can also apply for a savings account online with them too. All very easy and quick to do. They give you the account number and sort code on opening. That's with both the basic accounts and savers. I always wait for a few days after opening before adding them to PP or AMA though.

When opening more basic accounts, there is an option to chose which branch you want to use. This way you get different sort codes.

hingwhh · #28 12-26-2015

Quote:

Originally Posted by LOMBOK

I have 4 basic accounts with Natwest. After opening the first online, I waited four or five months before opening the next, again online. Same process for the others. You can also apply for a savings account online with them too. All very easy and quick to do. They give you the account number and sort code on opening. That's with both the basic accounts and savers. I always wait for a few days after opening before adding them to PP or AMA though.

When opening more basic accounts, there is an option to chose which branch you want to use. This way you get different sort codes.

Thank you so much for the information, thats very helpful

bronwyn · #29 12-31-2015

I have always used Santander but got a mail just today because they're holding $2k for mismatched name on the account and was placed under fraud department. I went to the branch and asked to bring in the payee with ID to sign a form to release the money. Otherwise, they will send the money back to Paypal. So, now I'm not using Santander again.

Ragnar · #30 01-17-2016

Sorry for the dumb question, I just want to clarify exactly what is meant by "mismatched names".

Is it that the sort code and account number is in your name (example John Smith) and the paypal account is in another person's name (example Joe Bloggs) ?

Therefore. when you withdraw from Paypal, the bank will see an incoming deposit being paid to Joe Bloggs, but with your sort code and account number. Have I understood that correctly?

JamesNorth101 · #31 01-17-2016

Mismatch name - Name on PayPal does not match the name on the bank account

Example being

PayPal name is Ryan Jones
Bank name (your real name) is Bob Hatton

If a bank is OK with mismatching names (as most are) they will not ever ask about the names on the incoming deposit being different to that of the bank account holders name

If banks have an issue with it (lloyds for example) they may ask why the name does not match. Some banks will also refuse the deposit.

realdeals · #32 01-17-2016

Quote:

Originally Posted by Ragnar

Sorry for the dumb question, I just want to clarify exactly what is meant by "mismatched names".

Don't be sorry. It is better to ask if you are not sure than lose a precious bank account. Even though things are getting a little looser than in the past, in the UK we still do not have the luxury of producing new bank accounts like confetti.

Read the forums and search for relevant threads as much as possible, then if stuck always feel free to ask.

Ragnar · #33 01-20-2016

Thanks guys for your insight.

Is it correct to say that the sending organisation (i.e; Paypal) cannot see the account name (other than the name you give them)?

Is there no way for them to check this?

JamesNorth101 · #34 01-20-2016

When PayPal send funds they cannot see the name on the account that they are sending funds do

Banks do not share this information with them

Banks can see the incoming name though, and some banks will reject or take issue with mismatching name deposits

vetus · #35 01-20-2016

Banks cannot see the incoming name at all, that's why it works with the majority.

The 'new system' banks work on matches payments via account number and sort code to the account it is being sent to, banks like Lloyds and TSB are still being run on the 'old system' where incoming payments are matched on sort code and account number and also the name on the account. For what we do, that is then where the issue comes.

JamesNorth101 · #36 01-20-2016

The fact that some banks use to old system means that some banks can see the name on an incoming deposits....

Interesting that you say that using the new system they cannot see the name at all. That has never been my understanding of the new EU system. Shall have a little research on that one.

Either which way PayPal cannot see the name so the point is moot

Ragnar · #37 01-20-2016

Quote:

Originally Posted by JamesNorth101

That has never been my understanding of the new EU system.

Haven't got a link to where I can read up on that by any chance have you?

JamesNorth101 · #38 01-20-2016

Here you go > SEPA and FPS

These are 2 of the 4 systems that can be used in the UK

Lots of links off that page that explain it all in more detail

Ragnar · #39 01-20-2016

How Faster Payments Works | Faster Payments

Quote:

7. Once Mike’s bank has received the transaction, it checks that the account number is valid (note, it does not verify that the account name and number match), and then sends a message back to the Faster Payments Service that it has accepted (or rejected) the payment.

BACS and CHAPS may work differently.

chimera · #40 01-21-2016

Its the banks particular software system that determines if they auto reject miss-matched names, nothing to do with how the funds are transferred. Bank policy, not enforced wider EU banking policy in general.

learner00780 · #41 04-02-2019

Just to give an update

For a payment from Amazon

I have had a phone call from Natwest asking for name , date of birth and address of the stealth name.

james_112233 · #42 04-02-2019

What is a good excuse to give to a bank as to why there are mis matched named ?

#43 04-02-2019

Quote:

Originally Posted by learner00780

Just to give an update

For a payment from Amazon

I have had a phone call from Natwest asking for name , date of birth and address of the stealth name.

How have you responded?

learner00780 · #44 04-03-2019

I just gave them the stealth name , date of birth and address .
Money showed later on However I have also noticed that it says International payment - Amazon PAY UK CHaps transfer in transcation details instead of Amazon EU Automated Pay in the past.

Same noticed with Santander
Looks like its some thing to do with Amazon UK Payments from April